Chief diversity officer
The task of creating and putting into action a company’s diversity and inclusion plan falls under the purview of the Chief Diversity Officer (CDO), an executive leader. In terms of factors such as – age, gender, color, ethnicity, and handicap, they want to provide equal opportunity for both candidates and employees. Chief diversity officer often link this strategy to business objectives as well as to legal and human resources agendas. Depending on the company, the diversity function’s head may not hold a C-suite position or use a different title. A Chief Diversity Officer is also entrusted with the task of developing diversity recruitment strategies for their organization. Let us know ‘Salaries For Chief Diversity Officer CDO’.
Salaries For Chief Diversity Officer CDO
Many businesses hire a Chief Diversity Officer to develop and track progress towards inclusion and diversity objectives. The Chief diversity Officer typically reports to the CEO, COO, Human Resources Director, or General Counsel. Because diversity extends beyond employees in larger corporations (e.g., supplier and customer diversity), the Chief Diversity Officer may be allotted multiple departments under him or her. The chief diversity officer employs an average of 8 people under them. The chief diversity officer’s tenure is of about 10 years on average with the company and 4 years in the position. 75% of diversity officers boarded, regularly report to corporate boards, only the relevant one’s report to the United States.
Salary of a Chief Diversity Officer on the Average
The chief diversity officer post is typically full-time and employed by organizations, however in some remote-based companies, it can also be a hybrid position. In any event, the job duties of Chief Diversity Officer’s differ based on the organization and sector. The average chief diversity officer in the United States earns around $154,526 a year, according to the Bureau of Labor Statistics. Following transportation, manufacturing, and employment services, the coal mining sector has the highest chief diversity officer yearly average income
Chief Diversity Officers are also compensated based on their level of experience
A Chief Diversity Officer CDO with 1-4 years of experience can expect to earn an average total salary of $99,110 based on 35 salaries. A mid-career Chief Diversity Officer with 5 to 9 years of experience can expect to earn an average total salary of $129,134 based on 34 salaries. An experienced Chief Diversity Officer with 10–19 years of experience can expect to earn an average total salary of $148,501 based on 88 salaries. An employee’s overall remuneration averages $160,614 for those who are in their late career (20 years and up).
Salary of Chief Diversity Officers in Top Companies
Here are some of the examples of the chief diversity officer’s annual average compensation in some of the top companies in various industries across the world :-
- Google– pays its chief diversity officer an average compensation of $175,2110;
- Amazon– pays an average of $229,800;
- Oracle– pays an average of $236,116; and
- Cisco Systems– pays an average of $238,801; all of these companies are followed by other companies.
Top Paying Cities for Chief Diversity Officers
The cities with the highest-paying chief diversity officer roles particularly in the United States, are shown below, organized by geography :-
- New York – New York tops the list with an annual pay of $118,069, according to the list.
- Washington DC – It is followed by the wage of $117,994 per year provided by Washington, DC.
- Queens – The annual wage in Queens is $106,870.
- Columbus – Lastly, Columbus, Ohio, with a salary of $101,938 annually.
Diversity Professional Profiles
A lot of chief diversity officers are also vice presidents or senior vice presidents. A person can progress from deputy chief to chief diversity officer and eventually to vice president (VP) based on experience after becoming a knowledgeable professional officer.
A diversity officer may hold various titles. The following table lists the typical compensation for consultants, vice presidents, and senior vice presidents:
Both standalone projects and the quality of more significant documentation are within the consultant’s control. An independent consultant can earn up to $107,000 annually. There must be four years of professional experience for the role.
- Vice President
In addition to having sufficient leadership capabilities, the vice president role demands effective communication skills. A person must have more than ten years of experience because it involves managing significant cross-departmental collaboration and supervising many teams. While paying an average of $158,637 annually, the role has several duties.
The median annual salary for vice presidents in the lower tier, or the bottom ten percent, is $107,000, while the median annual salary for vice presidents in the top ten percent is $235,000. A vice president’s compensation is influenced by their place of employment. The states with the highest salaries for vice presidents are New York, Connecticut, New Jersey, Washington, and Virginia.
- Senior Vice President
This is the chief diversity officer’s role within an organisation, which is the highest position. Important choices like recruiting and training must be made by the VP on behalf of the entire department. It takes more than ten years of professional experience and has an average yearly total remuneration of $194,770 because it is at the top of the career ladder.
The median annual salary for senior vice presidents in the bottom 10% of the pay scale is $125,000, while the highest 10% earns $302,000. An executive’s place of employment has an impact on their remuneration. Alaska, Washington, Nevada, Rhode Island, Nebraska, and Senior Vice Presidents make the greatest money.
Eligibility criteria for chief diversity officer
It is necessary for the chief diversity officer to be able to establish contacts and consult others in the community. They should also have a flexible mindset, be creative, and be dedicated to improving the organisation and the people it serves.
The minimal qualification for this post can be a bachelor’s degree, and some employers might need a master’s or Ph.D. in business administration, human resources, or a related discipline. Other requirements include having five to ten years of relevant expertise and the capacity to forge wide alliances with a range of interest groups. They must possess in-depth understanding of public policy and laws pertaining to affirmative action, social justice, employment, equality, and politics pertaining to diversity, as well as show proficiency in favorably responding to politically heated and delicate circumstances. Also, they must to have knowledge in formulating workable solutions and reaching agreements on potentially divisive problems.
The primary determinants of the chief diversity officer’s pay or average salary are your company and sector and also the city you are working in. Your educational history and professional background, however, are equally crucial. Creating a strong portfolio is the best course of action in any instance if you want to bargain for a higher pay. Along with the working experience, the more working experience the higher average value you can bargain for.